Why Iovance Biotherapeutics Stock Zoomed More Than 5% Higher Today

Now this is a fine way for a stock to greet the new year. On the back of a glowing analyst recommendation, Iovance Biotherapeutics's (NASDAQ: IOVA) shares closed Thursday more than 5% higher in price. That compared most favorably with the S&P 500 index, which landed in negative territory with a slight (0.2%) drop on the day.The entity delivering the good news was financial services company Stifel, whose analyst Benjamin Burnett tagged Iovance as its top stock pick in the biotech sector for 2025. Almost needless to say, Burnett reiterated his buy recommendation on the shares. The pundit's very bullish view of Iovance, according to reports, is based largely on the continuing popularity of its cancer drug Amtagvi, which was approved less than a year ago by the U.S. Food and Drug Administration (FDA). In Burnett's opinion, there is extremely limited competition for Amtagvi in the treatment of late-line melanoma. As such, its sales will need to grow only modestly in order for the company to meet its revenue guidance. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool